Chicago-based snack food giant Mondelez International said it has agreed to acquire Clif Bar & Company, the California-based maker of Clif, Clif Kid and Luna brand energy bars.
Chicago-based snack food giant Mondelez International said Monday it has agreed to acquire Clif Bar & Company, the California-based maker of Clif, Clif Kid and Luna brand energy bars. Shown here are Clif Bar's Crunchy Peanut Butter, left, and Chocolate Chip Peanut Crunch.
The deal was valued at $2.9 billion and includes “additional contingent earnout consideration,” Mondelez said in a news release.“We are thrilled to welcome Clif Bar & Company’s iconic brands and passionate employees into the Mondelēz International family,” said Dirk Van de Put, chairman and CEO of Mondelez International, in a statement.
Mondelez spokesperson Tracey Noe said the company saw “great opportunity” to expand Clif’s reach in the U.S., Canada and other international markets.
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